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Trade War On
…New tariffs on $200 billion in Chinese imports. China retaliates. Kavanaugh on hold. Senate passes opioid legislation. Florence death toll mounts. Financial Review by Sinclair Noe for 09-18-2018 DOW + 161 = 26,223 SPX + 15 = 2904 NAS + 60 = 7956 RUT + 7 = 1710 10 Y + .05 = 3.05% OIL + .84 = 69.75 GOLD – 3.20 = 1198.90 The Dow and S&P managed to erase yesterday’s losses, Nasdaq did not. FAANG Stocks gained on the day but were unable to erase yesterday’s losses. Wall Street doesn’t seem to care about the escalating trade war between the United States and China. The White House late Monday released a statement imposing new tariffs of 10 percent on $200 billion in Chinese imports beginning Sept. 24 and expanding the levy to 25 percent beginning Jan. 1. When the new tariffs take effect, over half of all Chinese goods coming into the US will be subject to duties. The U.S. has already slapped $50 billion in tariffs on China, along with those on steel and aluminum. Today, China hit back at the US with a fresh series of tariffs, knocking the trade war between the two nations up another gear. The Chinese Ministry of Commerce on Tuesday said it would levy tariffs of 5% to 10% on $60 billion worth of US goods sent to China, with 5,207 individual products affected. The new tariffs from Beijing are in line with what the ministry previously threatened, and ...
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By Sinclair Noe…New tariffs on $200 billion in Chinese imports. China retaliates. Kavanaugh on hold. Senate passes opioid legislation. Florence death toll mounts. Financial Review by Sinclair Noe for 09-18-2018 DOW + 161 = 26,223 SPX + 15 = 2904 NAS + 60 = 7956 RUT + 7 = 1710 10 Y + .05 = 3.05% OIL + .84 = 69.75 GOLD – 3.20 = 1198.90 The Dow and S&P managed to erase yesterday’s losses, Nasdaq did not. FAANG Stocks gained on the day but were unable to erase yesterday’s losses. Wall Street doesn’t seem to care about the escalating trade war between the United States and China. The White House late Monday released a statement imposing new tariffs of 10 percent on $200 billion in Chinese imports beginning Sept. 24 and expanding the levy to 25 percent beginning Jan. 1. When the new tariffs take effect, over half of all Chinese goods coming into the US will be subject to duties. The U.S. has already slapped $50 billion in tariffs on China, along with those on steel and aluminum. Today, China hit back at the US with a fresh series of tariffs, knocking the trade war between the two nations up another gear. The Chinese Ministry of Commerce on Tuesday said it would levy tariffs of 5% to 10% on $60 billion worth of US goods sent to China, with 5,207 individual products affected. The new tariffs from Beijing are in line with what the ministry previously threatened, and ...